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Last Update: 31-Jan-12 10:04 ET
S&P Tech Sector Modestly Higher, Slightly Ahead Of Broader Market
The tech sector is trading slightly higher today, along with gains in the broader market. Semiconductors are showing a little relative strength in the tech space with the Philly Semi Index trading 0.4% higher. NXPI (+3.3%) is a standout, while STM (-1.3%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 0.3% higher, while the NASDAQ is trading 0.3% higher and the QQQ is 0.4% higher on the session. Among tech bellwethers, AAPL (+0.9%) and GOOG (+0.9%) are showing strength, while ORCL (-0.5%) is a notable underperformer.
In earnings this morning, ARMH (+4.2%) posted a beat and guided higher. Elsewhere, HRS (+2.7%) reported a mixed quarter and guidance, TLAB (-4.3%) posted a slight beat, but guided below consensus and announced restructuring, and LXK (-3.9%) posted a beat and raise.
In news, TSEM (+8.3%) and Triune Systems announced nanoSmart products ramping to mass production.
Among notable analyst ratings changes this morning, ULTI (-1.5%) was downgraded to Hold at ThinkEquity.
BRCM (+0.6%) and STX (+0.9%) are the notable names in tech scheduled to report results today after the close.
In earnings this morning, ARMH (+4.2%) posted a beat and guided higher. Elsewhere, HRS (+2.7%) reported a mixed quarter and guidance, TLAB (-4.3%) posted a slight beat, but guided below consensus and announced restructuring, and LXK (-3.9%) posted a beat and raise.
In news, TSEM (+8.3%) and Triune Systems announced nanoSmart products ramping to mass production.
Among notable analyst ratings changes this morning, ULTI (-1.5%) was downgraded to Hold at ThinkEquity.
BRCM (+0.6%) and STX (+0.9%) are the notable names in tech scheduled to report results today after the close.
